Suncor Energy (NYSE:SU) PT Raised to $52.00

Suncor Energy (NYSE:SU) (TSE:SU) had its target price lifted by research analysts at Morgan Stanley from $50.00 to $52.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Morgan Stanley’s price objective would suggest a potential upside of 41.00% from the stock’s previous close.

Suncor Energy Trading Up 1.1 %

NYSE:SU traded up $0.40 during trading hours on Thursday, hitting $36.88. 1,608,789 shares of the company were exchanged, compared to its average volume of 4,304,711. The stock has a market capitalization of $47.50 billion, a price-to-earnings ratio of 7.84, a price-to-earnings-growth ratio of 3.39 and a beta of 1.12. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. Suncor Energy has a one year low of $27.59 and a one year high of $36.97. The company has a fifty day simple moving average of $33.66 and a 200 day simple moving average of $33.22.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.13. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. The business had revenue of $10.39 billion during the quarter, compared to analyst estimates of $8.46 billion. During the same period last year, the company earned $1.33 EPS. Sell-side analysts expect that Suncor Energy will post 3.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Suncor Energy

Hedge funds have recently added to or reduced their stakes in the stock. Sanders Capital LLC lifted its position in shares of Suncor Energy by 2.8% during the 4th quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock worth $1,836,470,000 after buying an additional 1,568,629 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Suncor Energy by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 50,534,957 shares of the oil and gas producer’s stock worth $1,619,140,000 after buying an additional 155,343 shares in the last quarter. TD Asset Management Inc lifted its stake in Suncor Energy by 16.8% in the fourth quarter. TD Asset Management Inc now owns 32,070,496 shares of the oil and gas producer’s stock valued at $1,032,453,000 after purchasing an additional 4,612,764 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Suncor Energy by 8.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 22,384,816 shares of the oil and gas producer’s stock valued at $717,210,000 after purchasing an additional 1,725,969 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in Suncor Energy by 0.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 20,530,994 shares of the oil and gas producer’s stock valued at $657,772,000 after purchasing an additional 182,289 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.